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U.S. Statement at the WTO Trade Policy Review of Japan

Posted March 10, 2017

Under Economic Issues, International Trade Issues

(Mission of the United States - Geneva, Switzerland)

Meaningful structural reforms in Japan will help address global trade imbalances.  In this regard, the U.S. goods trade deficit with Japan was $68.9 billion in 2016, second only to China.  This ongoing goods deficit remains of serious concern to the United States.

Prime Minister Abe has highlighted a number of areas for reform, including ones relating to corporate governance, medical care, and labor markets.  We remain hopeful that the Abe administration will continue to undertake ambitious domestic regulatory reforms to create new economic opportunities and further open Japan’s economy.

Although Japan’s industrial tariffs are generally low, significant non-tariff barriers remain. As a result, the United States continues to look to Japan to take new, bold steps to increase transparency, reduce unnecessary regulation, and remove other non-tariff barriers to trade. Click here to read more.

Related: Japan Hopes to Leave Farms Out of U.S. Economic Talks (Reuters)